What is a special resolution Companies Act?

What is a special resolution Companies Act?

A special resolution is a resolution of the company’s shareholders which requires at least 75% of the votes cast by shareholders in favour of it in order to pass. Where no special resolution is required, an ordinary resolution may be passed by shareholders with a simple majority โ€“ more than 50% โ€“ of the votes cast.

What is the minimum share capital for limited companies in Zambia?

The law in Zambia provides a minimum share capital requirement for both private companies and public companies. The minimum share capital is ZMW15,000 for private companies and ZMW1. 5 million for public companies.

Who is eligible to give special notice to the company?

(1) A special notice required to be given to the company shall be signed, either individually or collectively by such number of members holding not less than one percent of total voting power or holding shares on which an aggregate sum of not less than five lakh rupees not more than five lakh rupees not less than five …

What is Chapter 388 of the Laws of Zambia?

Cap 388 of the Laws of Zambia; “fiduciary duty” means an obligation to act in the best interests of another party: “member” means a member or shareholder of a company; and “stakeholder” means any individual or group on which the activities of a company will have an impact.

How much is registering a company in Zambia?


Different Zambia entity types Cost Draft invoice
Limited Liability Company (LLC) US$15,450 View invoice PDF
PLC US$16,450 View invoice PDF
Branch of a foreign company US$19,450 View invoice PDF
Representative office US$17,950 View invoice PDF

What are the purposes of subsection (1) (a) of Section 17 of Companies Act?

No. 17 of 2015 Companies [Rev. 2021] the purposes of subsection (1)(a), the directors shall specify the total amounts respectively ofโ€” (a) wages and salaries paid or payable in respect of that year to those persons; and (b) costs incurred by the company in respect of retirement and other benefits in respect of those persons.

What is the Companies Act No 17 of 2015?

No. 17 of 2015 Companies [Rev. 2021] (c) the legal form of the company or firm and the law by which it is governed; and (d) in the case of a company or a firm that is incorporated, register in which it is recorded (including the place where the register is kept) and its registration number in the register.

What happens if a company fails to comply with Companies Act 2015?

[Rev. 2021] Companies No. 17 of 2015 the same manner and subject to the same conditions as if the application for the entry were made by the transferee. (2) A company that, without lawful justification, fails to comply with subsection (1) is liable to pay damages to the applicant. 500.

What is Section 2) (a) of the Companies Act?

(3) In forming their opinion for the purposes of subsection (2)(a), the directors shall take into account all of the company’s liabilities (including any contingent or prospective liabilities).